MassMutual Private Wealth & Trust FSB Has $4.38 Million Stock Holdings in Deere & Company $DE

MassMutual Private Wealth & Trust FSB increased its holdings in shares of Deere & Company (NYSE:DE) by 26.7% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 6,911 shares of the industrial products company’s stock after purchasing an additional 1,455 shares during the quarter. MassMutual Private Wealth & Trust FSB’s holdings in Deere & Company were worth $4,384,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the business. Hilltop National Bank lifted its stake in Deere & Company by 2.6% in the 2nd quarter. Hilltop National Bank now owns 3,176 shares of the industrial products company’s stock worth $2,015,000 after acquiring an additional 79 shares in the last quarter. Ballast Advisors LLC acquired a new stake in Deere & Company during the 1st quarter worth about $63,000. Western Wealth Management LLC grew its stake in Deere & Company by 31.6% during the 1st quarter. Western Wealth Management LLC now owns 1,771 shares of the industrial products company’s stock valued at $997,000 after acquiring an additional 425 shares in the last quarter. FAS Wealth Partners Inc. grew its stake in Deere & Company by 7.1% during the 1st quarter. FAS Wealth Partners Inc. now owns 1,801 shares of the industrial products company’s stock valued at $1,014,000 after acquiring an additional 120 shares in the last quarter. Finally, Farmers National Bank increased its holdings in shares of Deere & Company by 37.4% in the 1st quarter. Farmers National Bank now owns 1,826 shares of the industrial products company’s stock valued at $1,029,000 after purchasing an additional 497 shares during the period. 68.58% of the stock is owned by institutional investors and hedge funds.

Deere & Company Stock Performance

Shares of DE stock opened at $617.64 on Wednesday. Deere & Company has a fifty-two week low of $433.00 and a fifty-two week high of $674.19. The stock’s 50-day moving average is $594.84 and its two-hundred day moving average is $582.79. The company has a debt-to-equity ratio of 1.54, a current ratio of 2.18 and a quick ratio of 1.95. The firm has a market cap of $166.73 billion, a P/E ratio of 34.99, a PEG ratio of 2.56 and a beta of 0.90.

Deere & Company (NYSE:DE) last announced its quarterly earnings results on Thursday, May 21st. The industrial products company reported $6.55 EPS for the quarter, beating the consensus estimate of $5.70 by $0.85. The business had revenue of $13.37 billion during the quarter, compared to analysts’ expectations of $11.55 billion. Deere & Company had a return on equity of 18.25% and a net margin of 10.09%.The firm’s quarterly revenue was up 5.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $6.64 EPS. Analysts predict that Deere & Company will post 18.26 earnings per share for the current fiscal year.

Deere & Company Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, August 10th. Shareholders of record on Tuesday, June 30th will be paid a $1.62 dividend. The ex-dividend date is Tuesday, June 30th. This represents a $6.48 dividend on an annualized basis and a yield of 1.0%. Deere & Company’s payout ratio is 36.71%.

Analysts Set New Price Targets

A number of research firms have recently issued reports on DE. Jefferies Financial Group raised shares of Deere & Company from an “underperform” rating to a “hold” rating and set a $550.00 price target for the company in a research report on Wednesday, April 8th. Raymond James Financial lowered their price objective on shares of Deere & Company from $765.00 to $700.00 and set an “outperform” rating on the stock in a research report on Friday, May 22nd. Royal Bank Of Canada reiterated an “outperform” rating and issued a $752.00 price objective on shares of Deere & Company in a research note on Monday, June 1st. DA Davidson reiterated a “buy” rating and issued a $685.00 target price on shares of Deere & Company in a research report on Friday, July 17th. Finally, Weiss Ratings raised shares of Deere & Company from a “hold (c)” rating to a “hold (c+)” rating in a research note on Thursday, May 21st. Fourteen analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $642.98.

About Deere & Company

Deere & Company, commonly known by its brand John Deere, is a global manufacturer of agricultural, construction and forestry machinery, as well as turf care equipment and power systems. Founded in 1837 by blacksmith John Deere—who developed a polished steel plow to improve tillage in tough prairie soils—the company is headquartered in Moline, Illinois, and has grown into one of the largest and most recognizable names in equipment manufacturing worldwide.

The company’s principal businesses include a broad portfolio of agricultural equipment such as tractors, combines, planters, sprayers, harvesters and tillage implements, complemented by precision agriculture technologies and telematics that support farm management, yield optimization and equipment connectivity.